Spud, there are some similarities to 1928 evident. First of all the leveraged buying of stock made a comeback in the last few years, that is, people were borrowing money at 10% in order to invest in the market to obtain the 25 to 100% returns that were common. This works well until stocks start to drop, when panicked selling often ensues. Also, the rash of dotcom buying fever that enabled people to start a company on a whim, earn no profit, and sell the blue sky assets for millions. Even at the time, there was a feeling of no solidity to these purchases, that feeling was ignored in the mania of the "New Economy".

But I don't think overall factors reflect the economic status prior to '28. Inflation is not rampant, employment is quite steady, and the performance of most traditional "value" companies is healthy.

I am not wealthy, but I did manage to salt away some 401 savings every paycheck for ten years toward my retirement and my daughters college, along with some inheritance money from my Father. Maybe this is unusual for "folkies" but I think it's typical of most middle-income American families. This nest egg is the foundation of financial confidence for many, and seeing it erode away is very traumatic.

Amos, thanks for the words. As soon as we sell the rights for the screen version of "Mudcat Enterprise" I'm retiring!